In Texas, a bankruptcy can remain on your credit report for ten years.
While this can make getting a loan and other types of credit difficult, it certainly doesn't mean that it is impossible.
If you are looking for a way to boost your credit or if you want to take full advantage of the fresh start that declaring bankruptcy has provided, you may want to consider investing in homeownership.
Why Buy a Home in Texas Homes in Texas are an excellent investment.
Values in the state increase consistently and equity builds quickly.
Buying a home after bankruptcy in Texas gives you the chance to invest in a solid opportunity while you rebuild your credit with timely mortgage payments.
Getting Approved for a Texas Mortgage Loan After Bankruptcy Although you can apply for a mortgage loan at any point after your bankruptcy has discharged, most Texas mortgage lenders will make you wait two to three years before they will consider approving you for this type of loan.
If you have good income, a sizable down payment, and a flawless payment history since the bankruptcy, you may be able to get approved for a Texas mortgage loan even sooner.
Finding a Lender More and more lenders are creating special home mortgage loan programs designed for borrowers who have a bankruptcy on their credit report.
For this reason, it has never been easier to buy a home after bankruptcy in Texas.
If you are thinking about applying for a Texas mortgage loan, it is a good idea to see one of these lenders out.
You will greatly increase your chances of getting approved for your loan by working with a lender who specializes in sub-prime lending and bad credit mortgage loans.